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Financial institutions; officers and directors. Permits the State Corporation Commission, upon petition, to permit an individual to serve as an officer or on the boards of directors of more than one financial institution if the Commission finds that the financial institutions are not in competition with each other or that one or both of the institutions might otherwise be denied capable management or direction from an individual residing in or employed in the locality served by an institution.
Introduced
Jan 16, 2026
Last Action
Mar 10, 2026
Session
VA 2026
Sponsors
1 primary · 0 co
Passed House (99-Y 0-N 0-A)
Read third time
Read second time
Reported from Labor and Commerce (21-Y 0-N)
Subcommittee recommends reporting (9-Y 0-N)
Assigned HCL sub: Subcommittee #1
Read first time
Referred to Committee on Labor and Commerce
Placed on Calendar
Read third time and passed Senate (38-Y 0-N 0-A)
Engrossed by Senate (Voice Vote)
Read second time
Rules suspended
Passed by for the day
Passed by for the day Block Vote (Voice Vote)
Constitutional reading dispensed Block Vote (on 1st reading) (40-Y 0-N 0-A)
Reported from Commerce and Labor (15-Y 0-N)
Fiscal Impact Statement from State Corporation Commission (SB734)
Referred to Committee on Commerce and Labor
Presented and ordered printed 26104585D
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Passed House (99-Y 0-N 0-A)
T. Travis Hackworth